Ascultă Radio România Actualitaţi Live

A new IMF mission in Bucharest

A joint mission of international lenders is assessing in Bucharest the stand-by agreement concluded with Romania last month.

A new IMF mission in Bucharest
Foto: Arhivă Reuters.

Articol de Radio România Internaţional, 23 Octombrie 2013, 18:33

These days Bucharest is being assessed by the international financial institutions to which it has applied three times since the start of the economic crisis.

The current precautionary agreement was approved by the IMF Board of Directors on September 27th, will last for 2 years and is worth 2 billion euros.

Until November 5th the joint IMF, European Commission and World Bank mission will look into the recent economic developments and the priorities of the economic reform in Romania.

Talks will focus on budget execution, fiscal measures and the 2014 budget.

Analysts don’t expect the mission to find major problems regarding macroeconomic targets, the more delicate issues being those related to structural reforms and real economy.

“I’m convinced that talks will focus on the latter issues, given the recent failure to privatize CFR Marfa- the freight division of the Romanian Railway Company.

Actually the privatization of CFR Marfa was one of the top priorities laid down in the agreement with the international lenders, as the company incurs losses every year and the amount of arrears is huge” said economic analyst Aurelian Dochia.

The 2014 budget will be built on an economic growth of 2.2%, a 3% inflation rate and a national currency/euro exchange rate of 4.45 lei per one euro.

Minister Delegate for Budget, Liviu Voinea said that a possible drop in fees and taxes, if revenues allowed it, might be approached during the talks.

Actually the agreement was started with an exception from the most important quantitative criterion, that of the budget deficit, the target for September being augmented by one billion lei.

This is a result of the very low budget revenue collection rate, which after 8 months stood below the estimated figure.

The letter of intent sets nominal budget deficit targets for the first half of 2014, when the authorities pledged to observe a maximum ceiling of 1.4 billion euros.

More news on RRI.

The presidential election campaign starts on Friday
News in English 03 Aprilie 2025, 17:33

The presidential election campaign starts on Friday

There are only a few hours to go before the official start of the electoral campaign for next month's presidential...

The presidential election campaign starts on Friday
Parliament's weekly agenda
News in English 31 Martie 2025, 15:34

Parliament's weekly agenda

The legislative proposal on tougher penalties for drivers who get behind the wheel after taking drugs will go before senators...

Parliament's weekly agenda
INFOMama app, health information and services for pregnant women and mothers
News in English 31 Martie 2025, 15:33

INFOMama app, health information and services for pregnant women and mothers

The organization "Save the Children" Romania launches on Tuesday, at the Senate, the mobile application INFOMama,...

INFOMama app, health information and services for pregnant women and mothers
Opening ceremony of the multinational exercise "Sea Shield" in Constanta
News in English 31 Martie 2025, 15:33

Opening ceremony of the multinational exercise "Sea Shield" in Constanta

"Sea Shield 25" includes combat sequences that will test the coordination and response capabilities of the...

Opening ceremony of the multinational exercise "Sea Shield" in Constanta
Ilie Bolojan: Thanks to the NATO shield, Romania has become a safe place
News in English 31 Martie 2025, 04:01

Ilie Bolojan: Thanks to the NATO shield, Romania has become a safe place

Romania will continue to contribute to the promotion of global security and democratic values, interim President Ilie Bolojan...

Ilie Bolojan: Thanks to the NATO shield, Romania has become a safe place
The electoral period for by-elections has started in 19 municipalities
News in English 31 Martie 2025, 03:59

The electoral period for by-elections has started in 19 municipalities

The electoral period for the by-elections that will be organized in 19 localities in 14 counties of the country on May 4, on...

The electoral period for by-elections has started in 19 municipalities
Land and property owners will be able to get their registry extracts online for free
News in English 31 Martie 2025, 03:58

Land and property owners will be able to get their registry extracts online for free

Owners of land and real estate will be able to get their land register extracts free of charge at the land registry counter...

Land and property owners will be able to get their registry extracts online for free
Internship at the Romanian Government
News in English 29 Martie 2025, 20:52

Internship at the Romanian Government

Young people interested in how public administration works can apply for a new edition of the internship program at the...

Internship at the Romanian Government